- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| EPS QoQ YoY | 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 24Q3 (20) | 1.35 | -4.26 | 4.65 | 33.98 | -0.15 | 10.72 | 21.62 | 14.63 | 42.33 | 24.35 | -6.99 | -3.49 | 17.30 | -12.98 | -6.59 | 3.86 | -4.22 | -9.18 | 2.66 | -2.56 | -9.83 | 0.15 | 15.38 | -6.25 | 27.44 | -7.7 | -4.59 | 40.44 | -26.71 | 0.0 | 88.96 | 23.57 | 48.0 | 11.26 | -59.81 | -71.78 | 20.85 | -12.83 | -13.95 |
| 24Q2 (19) | 1.41 | 23.68 | 11.9 | 34.03 | 13.09 | 25.85 | 18.86 | 53.83 | 70.37 | 26.18 | 3.44 | 6.08 | 19.88 | 11.43 | 8.57 | 4.03 | 20.66 | -2.42 | 2.73 | 16.17 | -4.21 | 0.13 | 0.0 | -13.33 | 29.73 | 1.82 | 4.57 | 55.18 | 18.72 | 6.61 | 71.99 | 48.59 | 60.18 | 28.01 | -45.67 | -49.13 | 23.92 | -14.88 | -3.08 |
| 24Q1 (18) | 1.14 | 50.0 | 395.65 | 30.09 | -2.53 | 10.95 | 12.26 | -18.48 | 8.4 | 25.31 | 52.84 | 307.57 | 17.84 | 51.7 | 352.79 | 3.34 | 30.47 | 302.41 | 2.35 | 27.72 | 279.03 | 0.13 | -13.33 | -7.14 | 29.20 | 45.2 | 183.22 | 46.48 | 2.22 | 9.26 | 48.45 | -46.68 | -73.6 | 51.55 | 464.7 | 162.6 | 28.10 | 12.31 | 12.9 |
| 23Q4 (17) | 0.76 | -41.09 | -7.32 | 30.87 | 0.59 | 10.49 | 15.04 | -0.99 | 6.21 | 16.56 | -34.36 | 21.5 | 11.76 | -36.5 | 14.17 | 2.56 | -39.76 | -7.58 | 1.84 | -37.63 | -2.13 | 0.15 | -6.25 | -16.67 | 20.11 | -30.08 | 18.78 | 45.47 | 12.44 | -7.37 | 90.87 | 51.18 | -12.49 | 9.13 | -77.12 | 337.34 | 25.02 | 3.26 | 16.1 |
| 23Q3 (16) | 1.29 | 2.38 | -21.82 | 30.69 | 13.5 | 4.1 | 15.19 | 37.22 | -8.38 | 25.23 | 2.23 | 0.16 | 18.52 | 1.15 | -0.05 | 4.25 | 2.91 | -26.47 | 2.95 | 3.51 | -20.7 | 0.16 | 6.67 | -20.0 | 28.76 | 1.16 | 2.17 | 40.44 | -21.87 | -21.45 | 60.11 | 33.74 | -8.79 | 39.89 | -27.54 | 16.98 | 24.23 | -1.82 | 20.25 |
| 23Q2 (15) | 1.26 | 447.83 | 16.67 | 27.04 | -0.29 | -5.45 | 11.07 | -2.12 | -26.45 | 24.68 | 297.42 | 27.81 | 18.31 | 364.72 | 22.07 | 4.13 | 397.59 | 4.03 | 2.85 | 359.68 | 11.76 | 0.15 | 7.14 | -11.76 | 28.43 | 175.75 | 25.19 | 51.76 | 21.67 | -17.18 | 44.94 | -75.51 | -42.32 | 55.06 | 166.85 | 149.37 | 24.68 | -0.84 | 10.18 |
| 23Q1 (14) | 0.23 | -71.95 | -77.88 | 27.12 | -2.93 | -8.19 | 11.31 | -20.13 | -26.61 | 6.21 | -54.44 | -66.9 | 3.94 | -61.75 | -71.37 | 0.83 | -70.04 | -76.94 | 0.62 | -67.02 | -73.62 | 0.14 | -22.22 | -17.65 | 10.31 | -39.1 | -53.85 | 42.54 | -13.34 | -19.2 | 183.53 | 76.73 | 123.72 | -82.35 | -2041.18 | -558.38 | 24.89 | 15.5 | 10.57 |
| 22Q4 (13) | 0.82 | -50.3 | 15.49 | 27.94 | -5.22 | -3.49 | 14.16 | -14.6 | 0.78 | 13.63 | -45.89 | 6.24 | 10.30 | -44.41 | 14.06 | 2.77 | -52.08 | 5.73 | 1.88 | -49.46 | 11.24 | 0.18 | -10.0 | 0.0 | 16.93 | -39.86 | 5.02 | 49.09 | -4.64 | -14.82 | 103.85 | 57.58 | -5.11 | -3.85 | -111.28 | 59.23 | 21.55 | 6.95 | -4.31 |
| 22Q3 (12) | 1.65 | 52.78 | 46.02 | 29.48 | 3.08 | -2.83 | 16.58 | 10.17 | -6.38 | 25.19 | 30.45 | 36.02 | 18.53 | 23.53 | 37.16 | 5.78 | 45.59 | 32.27 | 3.72 | 45.88 | 31.91 | 0.20 | 17.65 | -4.76 | 28.15 | 23.95 | 31.48 | 51.48 | -17.63 | -12.23 | 65.90 | -15.43 | -31.18 | 34.10 | 54.45 | 703.8 | 20.15 | -10.04 | -1.08 |
| 22Q2 (11) | 1.08 | 3.85 | 1.89 | 28.60 | -3.18 | -5.05 | 15.05 | -2.34 | -11.52 | 19.31 | 2.93 | 6.8 | 15.00 | 9.01 | 6.84 | 3.97 | 10.28 | -4.11 | 2.55 | 8.51 | -5.56 | 0.17 | 0.0 | -10.53 | 22.71 | 1.66 | 6.42 | 62.50 | 18.71 | 14.87 | 77.92 | -5.01 | -17.24 | 22.08 | 22.89 | 277.92 | 22.40 | -0.49 | 1.17 |
| 22Q1 (10) | 1.04 | 46.48 | 73.33 | 29.54 | 2.04 | 3.79 | 15.41 | 9.68 | 17.01 | 18.76 | 46.22 | 25.57 | 13.76 | 52.38 | 38.43 | 3.60 | 37.4 | 41.73 | 2.35 | 39.05 | 41.57 | 0.17 | -5.56 | 6.25 | 22.34 | 38.59 | 19.98 | 52.65 | -8.64 | -6.7 | 82.03 | -25.04 | -7.09 | 17.97 | 290.44 | 53.46 | 22.51 | -0.04 | -10.14 |
| 21Q4 (9) | 0.71 | -37.17 | 5.97 | 28.95 | -4.58 | -5.88 | 14.05 | -20.67 | -3.04 | 12.83 | -30.72 | -19.91 | 9.03 | -33.16 | -16.77 | 2.62 | -40.05 | -5.76 | 1.69 | -40.07 | -7.14 | 0.18 | -14.29 | 12.5 | 16.12 | -24.71 | -17.8 | 57.63 | -1.74 | 4.08 | 109.43 | 14.28 | 20.72 | -9.43 | -322.37 | -200.94 | 22.52 | 10.55 | -8.23 |
| 21Q3 (8) | 1.13 | 6.6 | 117.31 | 30.34 | 0.73 | -1.46 | 17.71 | 4.12 | 21.3 | 18.52 | 2.43 | 34.89 | 13.51 | -3.77 | 39.86 | 4.37 | 5.56 | 83.61 | 2.82 | 4.44 | 81.94 | 0.21 | 10.53 | 31.25 | 21.41 | 0.33 | 18.29 | 58.65 | 7.79 | 3.0 | 95.76 | 1.7 | -10.09 | 4.24 | -27.38 | 165.18 | 20.37 | -7.99 | -21.95 |
| 21Q2 (7) | 1.06 | 76.67 | 85.96 | 30.12 | 5.83 | 21.21 | 17.01 | 29.16 | 111.83 | 18.08 | 21.02 | 30.17 | 14.04 | 41.25 | 35.52 | 4.14 | 62.99 | 68.29 | 2.70 | 62.65 | 65.64 | 0.19 | 18.75 | 26.67 | 21.34 | 14.61 | 15.66 | 54.41 | -3.58 | -7.2 | 94.16 | 6.64 | 63.27 | 5.84 | -50.1 | -86.2 | 22.14 | -11.62 | 0 |
| 21Q1 (6) | 0.60 | -10.45 | 400.0 | 28.46 | -7.48 | 12.27 | 13.17 | -9.11 | 96.57 | 14.94 | -6.74 | 1276.38 | 9.94 | -8.39 | 458.84 | 2.54 | -8.63 | 553.57 | 1.66 | -8.79 | 588.24 | 0.16 | 0.0 | 23.08 | 18.62 | -5.05 | 370.2 | 56.43 | 1.91 | 10.71 | 88.29 | -2.6 | 116.63 | 11.71 | 25.27 | -98.17 | 25.05 | 2.08 | -15.46 |
| 20Q4 (5) | 0.67 | 28.85 | 91.43 | 30.76 | -0.1 | 11.81 | 14.49 | -0.75 | 32.33 | 16.02 | 16.68 | 71.7 | 10.85 | 12.32 | 73.6 | 2.78 | 16.81 | 79.35 | 1.82 | 17.42 | 70.09 | 0.16 | 0.0 | -5.88 | 19.61 | 8.34 | 42.72 | 55.37 | -2.76 | 12.31 | 90.65 | -14.89 | -22.85 | 9.35 | 243.59 | 153.4 | 24.54 | -5.98 | -8.09 |
| 20Q3 (4) | 0.52 | -8.77 | 0.0 | 30.79 | 23.9 | 0.0 | 14.60 | 81.82 | 0.0 | 13.73 | -1.15 | 0.0 | 9.66 | -6.76 | 0.0 | 2.38 | -3.25 | 0.0 | 1.55 | -4.91 | 0.0 | 0.16 | 6.67 | 0.0 | 18.10 | -1.9 | 0.0 | 56.94 | -2.88 | 0.0 | 106.51 | 84.69 | 0.0 | -6.51 | -115.38 | 0.0 | 26.10 | 0 | 0.0 |
| 20Q2 (3) | 0.57 | 385.0 | 0.0 | 24.85 | -1.97 | 0.0 | 8.03 | 19.85 | 0.0 | 13.89 | 1193.7 | 0.0 | 10.36 | 474.01 | 0.0 | 2.46 | 539.29 | 0.0 | 1.63 | 579.41 | 0.0 | 0.15 | 15.38 | 0.0 | 18.45 | 365.91 | 0.0 | 58.63 | 15.03 | 0.0 | 57.67 | 110.87 | 0.0 | 42.33 | -93.37 | 0.0 | 0.00 | -100.0 | 0.0 |
| 20Q1 (2) | -0.20 | -157.14 | 0.0 | 25.35 | -7.85 | 0.0 | 6.70 | -38.81 | 0.0 | -1.27 | -113.61 | 0.0 | -2.77 | -144.32 | 0.0 | -0.56 | -136.13 | 0.0 | -0.34 | -131.78 | 0.0 | 0.13 | -23.53 | 0.0 | 3.96 | -71.18 | 0.0 | 50.97 | 3.39 | 0.0 | -530.77 | -551.72 | 0.0 | 638.46 | 3748.35 | 0.0 | 29.63 | 10.97 | 0.0 |
| 19Q4 (1) | 0.35 | 0.0 | 0.0 | 27.51 | 0.0 | 0.0 | 10.95 | 0.0 | 0.0 | 9.33 | 0.0 | 0.0 | 6.25 | 0.0 | 0.0 | 1.55 | 0.0 | 0.0 | 1.07 | 0.0 | 0.0 | 0.17 | 0.0 | 0.0 | 13.74 | 0.0 | 0.0 | 49.30 | 0.0 | 0.0 | 117.50 | 0.0 | 0.0 | -17.50 | 0.0 | 0.0 | 26.70 | 0.0 | 0.0 |
| EPS YoY | 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 3.54 | -22.71 | 28.97 | 0.24 | 13.19 | -14.02 | 3.10 | 18.01 | 18.34 | -5.42 | 13.26 | -8.61 | 11.51 | -28.02 | 7.99 | -24.55 | 0.59 | -18.06 | 22.07 | -2.69 | 45.47 | -7.37 | 71.92 | -9.07 | 28.08 | 34.29 | 0.01 | -1.55 | 24.70 | 14.46 |
| 2022 (9) | 4.58 | 31.23 | 28.90 | -2.13 | 15.34 | -1.79 | 2.62 | -0.28 | 19.39 | 19.84 | 14.51 | 23.7 | 15.99 | 18.36 | 10.59 | 20.89 | 0.72 | -2.7 | 22.68 | 16.79 | 49.09 | -14.82 | 79.09 | -18.07 | 20.91 | 503.56 | 0.01 | -52.56 | 21.58 | -3.53 |
| 2021 (8) | 3.49 | 125.16 | 29.53 | 4.94 | 15.62 | 38.97 | 2.63 | -25.55 | 16.18 | 44.98 | 11.73 | 57.03 | 13.51 | 99.56 | 8.76 | 90.85 | 0.74 | 23.33 | 19.42 | 24.97 | 57.63 | 4.08 | 96.54 | -4.18 | 3.46 | 0 | 0.02 | -39.84 | 22.37 | -15.36 |
| 2020 (7) | 1.55 | -13.41 | 28.14 | 7.16 | 11.24 | 26.58 | 3.54 | 3.28 | 11.16 | 2.01 | 7.47 | -1.84 | 6.77 | -7.89 | 4.59 | -10.18 | 0.60 | -9.09 | 15.54 | 1.3 | 55.37 | 12.31 | 100.75 | 24.12 | -0.75 | 0 | 0.04 | -29.48 | 26.43 | -1.34 |
| 2019 (6) | 1.79 | 13.29 | 26.26 | -1.98 | 8.88 | -10.84 | 3.42 | 11.09 | 10.94 | -9.66 | 7.61 | 9.97 | 7.35 | 6.37 | 5.11 | 5.14 | 0.66 | -4.35 | 15.34 | -3.28 | 49.30 | 9.46 | 81.17 | -1.36 | 18.83 | 6.3 | 0.05 | 27.53 | 26.79 | 6.35 |
| 2018 (5) | 1.58 | -24.76 | 26.79 | -8.22 | 9.96 | -29.51 | 3.08 | -0.32 | 12.11 | -5.91 | 6.92 | -20.28 | 6.91 | -21.03 | 4.86 | -22.49 | 0.69 | -2.82 | 15.86 | -4.69 | 45.04 | 3.47 | 82.29 | -25.07 | 17.71 | 0 | 0.04 | 0 | 25.19 | 9.57 |
| 2017 (4) | 2.10 | -19.54 | 29.19 | -2.47 | 14.13 | 0.14 | 3.09 | -16.22 | 12.87 | -19.91 | 8.68 | -24.78 | 8.75 | -21.17 | 6.27 | -24.09 | 0.71 | 0.0 | 16.64 | -19.34 | 43.53 | 12.42 | 109.82 | 25.05 | -9.82 | 0 | 0.00 | 0 | 22.99 | -3.73 |
| 2016 (3) | 2.61 | 19.18 | 29.93 | 7.62 | 14.11 | 23.77 | 3.69 | -11.55 | 16.07 | 8.43 | 11.54 | 15.4 | 11.10 | 20.26 | 8.26 | 17.16 | 0.71 | 1.43 | 20.63 | 2.94 | 38.72 | 21.99 | 87.82 | 14.11 | 12.18 | -47.46 | 0.00 | 0 | 23.88 | -1.04 |
| 2015 (2) | 2.19 | 25.14 | 27.81 | 0.87 | 11.40 | 1.97 | 4.17 | -6.24 | 14.82 | 5.71 | 10.00 | 1.42 | 9.23 | 7.45 | 7.05 | 5.7 | 0.70 | 4.48 | 20.04 | 2.51 | 31.74 | 0.22 | 76.96 | -3.44 | 23.19 | 14.21 | 0.00 | 0 | 24.13 | 3.96 |
| 2014 (1) | 1.75 | 24.11 | 27.57 | 0 | 11.18 | 0 | 4.45 | -2.96 | 14.02 | 0 | 9.86 | 0 | 8.59 | 0 | 6.67 | 0 | 0.67 | 3.08 | 19.55 | 8.01 | 31.67 | 17.82 | 79.70 | 5.52 | 20.30 | -17.04 | 0.00 | 0 | 23.21 | 0.3 |
